CONMED Corporation (CNMD)
Debt-to-equity ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 780,689 | 796,148 | 803,555 |
| Total stockholders’ equity | US$ in thousands | 834,222 | 796,205 | 780,194 | 752,453 | 745,545 | 716,337 | 672,968 | 789,546 | 785,435 | 755,683 | 744,499 | 725,570 | 709,038 | 683,141 | 674,898 | 701,635 | 710,467 | 700,922 | 697,009 | 693,057 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.11 | 1.14 | 1.16 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $834,222K
= 0.00
Conmed Corp.'s debt-to-equity ratio has fluctuated over the last eight quarters. The ratio was relatively stable in Q4 2022 and Q1 2022 at 1.41 and 0.91 respectively. Since then, there has been a general increasing trend, reaching a peak of 1.46 in Q2 2022 before experiencing a slight decrease in subsequent quarters.
The ratio surpassed 1 in Q4 2022 and has remained above this threshold, indicating that the company relies more on debt financing compared to equity. This suggests a higher financial risk as higher debt levels can lead to increased interest payments and financial obligations, potentially impacting the company's financial stability and flexibility.
The recent decrease in the debt-to-equity ratio from Q2 2023 to Q4 2023 might indicate that Conmed Corp. is taking steps to reduce its debt levels relative to equity, which could be viewed positively by investors and creditors as it may lower the company's financial leverage and risk profile. Continued monitoring of this ratio will be necessary to assess the company's ongoing financial health and risk management strategies.
Peer comparison
Dec 31, 2023